INCOME TAX ASSESSMENT ACT 1997 - SECT 207.25 What this Subdivision is about
INCOME TAX ASSESSMENT ACT 1997 - SECT 207.25
What this Subdivision is aboutThis Subdivision deals with an entity that receives a benefit of a franked distribution where:
(a) the distribution is made to a partnership or the trustee of a trust; and
(b) the benefit is received either directly or through other interposed partnerships or trusts.
The distribution is regarded as flowing indirectly to the entity under this Subdivision.
On the basis of a notional amount of the entity's share of the distribution, the entity may be entitled to have an amount included in its assessable income and/or a tax offset under this Subdivision.
Gross - up and tax offset
207 - 30 Applying this Subdivision
207 - 35 Gross - up--distribution made to, or flows indirectly through, a partnership or trustee
207 - 37 Attributable franked distribution--trusts
207 - 45 Tax offset--distribution flows indirectly to an entity
207 - 50 When a franked distribution flows indirectly to or through an entity
207 - 55 Share of a franked distribution
207 - 57 Share of the franking credit on a franked distribution
207 - 58 Specifically entitled to an amount of a franked distribution
207 - 59 Franked distributions within class treated as single
franked distribution